At issue is the long-term right granted to Ecclestone to control all commercial rights to the Formula One world championship, including lucrative and fast-growing broadcasting revenue.
Stefan Rating, spokesman for EU commissioner Karel Van Miert, said the two sides had made "substantial progress" on a number of issues.
But Rating said there was still some way to go, adding that the EU commission was looking into the organisation of all motor racing events and their marketing.
A settlement with the EU's antitrust watchdog is crucial for Ecclestone's plan to launch a $2.0 billion Eurobond issue which would be secured by future television rights.
The lengthy talks have already delayed plans to float Ecclestone's Formula One Holdings company on the London Stock Exchange which have been put on hold in favour of the Eurobond issue.
Rating told a news briefing Formula One Holdings had sought the commission's opinion before pursuing the Eurobond plan.
"The investment bankers acting for Mr. Ecclestone came to see the (commission's competition officials) when they were finalising the issue...all we told them is that we have not finalised our assessment yet," he said.
"I should think we won't have any statement to make until November at the earliest," he added.
Reuters
